In 1998, a group of financial advisors decided to start a new broker/dealer unique to other firms. They enlisted the help of Gordon D’Angelo, now Chairman and CEO, who agreed to start the company on the condition that all advisors would have the opportunity to take part in ownership and equity of the company.
The founding group envisioned an independent broker/dealer that gave each representative vision, values and voice. During an initial meeting, Gordon D’Angelo wrote a vision for the new company that showed expansive growth in advisor production supported with world-class marketing. He said, “If you are interested in being part of the start-up, sign the flip chart,” and he left the room. When he returned everyone had signed the vision. Together, they believed they could take part in forming a quality, representative-focused broker/dealer.
In 1999, NEXT Financial Group was born. The company grew quickly, setting up headquarters in Houston, Texas, and creating its own internal Home Town Marketing company. It was not long before innovative ancillary companies were born. WE2, NFISCO, and 4WARD Marketing were established along side of NEXT Financial Group, Inc. under the newly founded NEXT Financial Holdings. Each of the companies were developed in accordance with NEXT’s culture, giving every advisor the power to make decisions and give input about the company’s future.
Today, NEXT Financial Group operates under the same principles in which it was founded. It has grown from $4 million in gross revenue to over $131 million while providing advisors with significant intellectual and capital resource available. The company is owned by its advisors and staff, and no shareholder owns more than 10% of the company. The Board of Directors is made up of six OSJs and all committees within NEXT Financial Group are run by NEXT advisors. It has been awarded Broker/Dealer of the year seven times. NEXT Financial Group believes that the strength of any broker/dealer lies in its advisors. In that spirit, NEXT encourages vision and gives advisors control over their own destiny by giving them a voice, equity and revenue in everything they create.